Sit Investment Associates Inc. cut its stake in Accenture PLC (NYSE:ACN) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 223,890 shares of the information technology services provider’s stock after selling 4,935 shares during the period. Sit Investment Associates Inc.’s holdings in Accenture PLC were worth $27,691,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Round Table Services LLC increased its position in shares of Accenture PLC by 16.8% in the second quarter. Round Table Services LLC now owns 2,647 shares of the information technology services provider’s stock valued at $327,000 after buying an additional 381 shares in the last quarter. Aperio Group LLC increased its position in shares of Accenture PLC by 10.0% in the second quarter. Aperio Group LLC now owns 466,380 shares of the information technology services provider’s stock valued at $57,682,000 after buying an additional 42,227 shares in the last quarter. Rockefeller Financial Services Inc. increased its position in shares of Accenture PLC by 16.0% in the second quarter. Rockefeller Financial Services Inc. now owns 7,395 shares of the information technology services provider’s stock valued at $914,000 after buying an additional 1,020 shares in the last quarter. Heritage Way Advisors LLC increased its position in shares of Accenture PLC by 5.7% in the second quarter. Heritage Way Advisors LLC now owns 17,093 shares of the information technology services provider’s stock valued at $2,114,000 after buying an additional 920 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of Accenture PLC by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 38,500 shares of the information technology services provider’s stock valued at $4,762,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 77.48% of the company’s stock.

Shares of Accenture PLC (NYSE:ACN) traded down 0.40% during mid-day trading on Monday, hitting $129.68. 952,917 shares of the stock were exchanged. Accenture PLC has a 52-week low of $108.83 and a 52-week high of $130.35. The company has a market cap of $80.14 billion, a P/E ratio of 22.96 and a beta of 1.11. The stock’s 50-day moving average price is $126.05 and its 200-day moving average price is $121.87.

Accenture PLC (NYSE:ACN) last issued its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, hitting the consensus estimate of $1.52. The company had revenue of $8.87 billion during the quarter, compared to analyst estimates of $8.82 billion. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 EPS. Equities research analysts anticipate that Accenture PLC will post $5.90 earnings per share for the current fiscal year.

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ACN has been the topic of a number of research analyst reports. BidaskClub downgraded shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Cowen and Company restated a “buy” rating and set a $135.00 price objective on shares of Accenture PLC in a research report on Friday, July 28th. Berenberg Bank set a $140.00 price objective on shares of Accenture PLC and gave the company a “buy” rating in a research report on Saturday, June 24th. BMO Capital Markets restated a “hold” rating and set a $130.00 price objective (up previously from $125.00) on shares of Accenture PLC in a research report on Thursday, June 22nd. Finally, Morgan Stanley set a $132.00 price objective on shares of Accenture PLC and gave the company a “hold” rating in a research report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $130.71.

In related news, General Counsel Chad T. Jerdee sold 3,200 shares of the business’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $122.97, for a total value of $393,504.00. Following the completion of the sale, the general counsel now owns 18,566 shares of the company’s stock, valued at approximately $2,283,061.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Richard Lumb sold 2,200 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $121.06, for a total transaction of $266,332.00. Following the sale, the insider now directly owns 121,710 shares of the company’s stock, valued at approximately $14,734,212.60. The disclosure for this sale can be found here. In the last three months, insiders sold 79,817 shares of company stock valued at $9,902,889. 0.21% of the stock is owned by insiders.

About Accenture PLC

Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.

Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

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